A sharp rise in interest rates last week meant far fewer homeowners could benefit from a mortgage refinance. That was the primary driver behind a 2.6 percent drop in total mortgage application volume last week, according to the MBA.

Ocwen jettisons executive vice president of lending as business shift continues

Ocwen jettisons executive vice president of lending as business shift continues

In exchange for the $1.25 million payout, Kumbar has to agree to various stipulations, including being prohibited from “any action that would interfere with, diminish or impair the valuable relationships that the company has with its clients, customers and others with which the company has business relationships or to which services are rendered.”

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